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Dynamic Business
environment |
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Effective management
of Supply Chains has become a complex and challenging task
in today's dynamic environment. Current business trends of
expanding product variety, increasing outsourcing,
globalization, shortening of product life cycles and
continuous information technology advances, have made this
task even more arduous.
Successful strategies begin by analyzing the existing supply
chain objectively. There are many indicators that the supply
chain is out of control – excessive inventory, degraded
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customer service,
escalating costs and declining profit or poor return on assets.
Moreover, as a company moves to new markets or new technologies,
its supply chain must be prepared to meet the demands and
opportunities presented by the new business.
The Internet has provided new opportunities for improvements in
performance across the extended supply chain. The Internet
enables extensive information sharing across complex supply
chains, creating dynamic, virtual supply chain networks of
trading partners.
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These partners can work
in tight coordination to optimize chain-wide performance, share
information and knowledge in real time, design customized
products and services for new markets and respond quickly to
changing customer requirements. Information sharing and
knowledge exchange via the internet have fostered tighter
linkages between companies, as well as among their suppliers and
customers Challenges and opportunities afforded by the Internet
have contributed
to an all-time high interest in new concepts and ways to manage
a supply chain. The objective is clear: to seize the high ground
and gain a competitive advantage through supply chain
integration. |
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